Star Peak Energy Transition Shareholders Approve $1.35B Stem Merger

Star Peak Energy

Star Peak Energy Transition in an 8-K filing said shareholders voted in favor of the SPAC’s proposed merger with Stem, which designs and manufactures clean energy storage systems. 

The deal values the combined company at a $1.35 billion.

The SPAC said nearly 60 percent of eligible shares were voted. There were 19,804 shares redeemed for approximately $10.13 per share, a peculiar move considering Star Peak opened just north of $26 a share before the April 27 vote. Read more.

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